Retail sales are starting to normalise after last year’s stimulus driven bonanza.
Today, the Australian Bureau of Statistics (ABS) released data showing that sales fell 0.8% in February, with annual growth also moderating to 9.1%:
Retail sales are slowing after last year’s stimulus-driven boom.
Sales growth was mixes across jurisdictions, with three posting falls and five posting rises:
A retail mixed bag.
Finally, food retailing (-3.0%) drove the monthly decline in sales, whereas most other categories posted growth in February:
Food retailing dragged monthly sales down.
Full report here.
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